NEW YORK AND FRANKFURT, Germany–( BUSINESS WIRE )–Oct 23, 2023–
One Equity Partners (“OEP”) announced today that it has entered into a definitive agreement to sell Walki Holding Oy (“Walki” or the “Company”), a pan-European provider of sustainable and high-performance packaging solutions and engineered materials, to Oji Holdings Corporation (“Oji Group”), a Japanese paper products technology company.
Founded in 1930 and headquartered in Espoo, Finland, Walki is a manufacturer of specialty packaging materials, offering consumer and industrial packaging for food and specialty consumer products, as well as engineered materials such as insulation and fireproof linings, resilient membranes and protective applications for clothes. The company has 17 manufacturing facilities worldwide and employs more than 1,700 people. The acquisition of Walki by OEP was completed in July 2018.
“We are humbled to bring Walki under our ownership and were pleased to help the business execute a transformative business expansion strategy with sustainability at its core,” said Mark Lindhorst, Managing Director, One Equity Partners. “We have collaborated with management to foster transformative growth opportunities in the packaging and engineered materials end markets, while supporting the development of production methods with reduced adverse environmental impacts.”
During OEP’s ownership, Walki has seen revenue growth of over 125% and made significant investments in long-term environmental sustainability. Investments include the development of alternative materials and production methods to give customers the flexibility to choose the most suitable packaging solution to mitigate environmental impact. Walki completed seven acquisitions during OEP’s holding period, including that of Plasbel Plásticos in 2021 to leverage its expertise in the production of recycled and compostable packaging and support the significant expansion of the Valkeakoski facility in Finland.
“One Equity Partners has been a first-class partner for our business over the past five years,” said Leif Frilund, CEO of Walki. “OEP’s expertise in specialized manufacturing facilities like ours has helped us deliver on our sustainability strategy while continuing to grow the business. With their support, we have proven that consistent corporate growth and business development need not be mutually exclusive.”
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team and an established track record of generating long-term value for its partners. Since 2001, the firm has completed over 300 transactions worldwide. OEP, founded in 2001, was spun off from JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
About the Battles
Walki is an industry-leading specialist in advanced packaging materials, providing transformative, sustainable solutions to solve the industry’s most demanding challenges. Walki is a growing international group organized into three business areas: consumer packaging, industrial packaging and engineered materials, with operations in twelve different countries. Walki continuously invests in new technologies and materials to improve its products and its environmental sustainability position in the industry. Walki has extensive packaging application know-how and in-house innovation capabilities. Our production facilities are located in Finland, Germany, Belgium, Spain, France, Poland, United Kingdom and China. To learn more, please visit www.walki.com
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KEYWORD: USA FINLAND JAPAN NORTH AMERICA ASIA PACIFIC EUROPE NEW YORK
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES SUSTAINABILITY TECHNOLOGY ENVIRONMENT OTHER PRODUCTS OTHER PROFESSIONAL SERVICES PACKAGING FINANCING OTHER TECHNOLOGY CONSULTANCY MANUFACTURING
SOURCE: One Equity Partners
Copyright Business Wire 2023.
PUBLICATION: 10/23/2023 09:00 AM/DISC: 10/23/2023 09:02 AM
Copyright Business Wire 2023.